Question 1

Can I buy a $2 million Beverly Hills home with a VA loan?

Accepted Answer

Yes. VA loans have no maximum amount, but you need a lender who underwrites jumbo VA loans. We work with several who regularly close $2M+ VA purchases.

Question 2

Do Beverly Hills sellers accept VA offers?

Accepted Answer

Many do with proper positioning. We write pre-approvals emphasizing your cash reserves and quick closing capability to compete with conventional buyers.

Question 3

What credit score do I need for a jumbo VA loan here?

Accepted Answer

Most lenders want 620 minimum for jumbo VA loans. Some require 640 or higher as loan amounts exceed $1.5 million.

Question 4

How much are closing costs on a Beverly Hills VA loan?

Accepted Answer

Expect $25K to $50K depending on loan size. This includes funding fee, title insurance, escrow fees, and prepaid items.

Question 5

Can I waive the VA appraisal to win a bidding war?

Accepted Answer

No. VA appraisals are mandatory and non-negotiable. You can waive the appraisal contingency but still need the appraisal completed.

VA Loans in Beverly Hills: Zero Down in a High-Value Market